Green finance policy and labor demand

We used the data of A-share listed companies from 2007 to 2019 to examine the impact of the Green Credit Guidelines (GCG) on corporate labor demand. The research showed that the GCG have significant crowding-out effects on the labor demand of high-polluting enterprises. The mechanism study showed that the GCG inhibit labor demand by increasing the productivity of high-polluting enterprises. In addition, in non-state-owned enterprises and enterprises with high analyst coverage, the crowding-out effects of the GCG on labor demand is not significant.